Fashion goods firm Tandy Brands Accessories Inc on Thursday posted a flat first quarter net profit of $2.4 million and announced the appointment of corporate controller Mark Flaherty as its new chief financial officer. The Texas-based company said that figure was before a change to comply with a new accounting rule which reduced net profit to $1.8m. It addeds ales climbed just over 10 per cent to $60m from $54.1m in the year-ago period.